MCX
MCX Natural Gas: Support 237, 234; resistance 242, 245
On the upper side
resistance is seen at 242 level once the commodity breaches and closes above
the same, then it may trade higher till 245 levels. Also, support for the
commodity is seen at 237 level and if futures break the same then prices may
touch 234 levels.
MCX Copper may trade range bound
Support for the base
metal is seen at 404. If futures break and sustain below 404 level, then the
commodity has next support at 400 level. On the upper side, resistance is seen
at 410.5 and 413 levels. MCX copper for June delivery was seen trading
down by 0.17% at Rs.407.15 per kilogram as of 02.34 PM IST on Monday.
MCX Gold sideways to bullish; resistance 26500
For intra-day, support
for the commodity is seen at 26300 and below that it may test the level of
26200. Also, resistance is there at 26500 and above that it may test the level
of 26680. Intra-day traders are advised to buy on dips for the day near 26400
with stop loss of 26300 for target near 26450.
MCX Silver sideways; support 43000, resistance 43600
For intra-day, support
for the commodity is seen at 43000 and below it could test level of 42500.
Resistance is seen at 43600. The prices are likely to trade range bound for
today's session. Traders may take buy position near 43000 with the stop
loss of 43000 for the target near 43600.
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NCDEX
NCDEX Sugar bearish; short covering expected, support 2970
Support for the
commodity is seen at 2970 while 3080 is the resistance. Traders may sell around
3055 with the stop loss of 3080 for the target of 2970. NCDEX sugar for
June delivery was seen trading up by 0.1% at Rs.3023 per 100 kgs as of 12.45 PM
IST on Monday.
NCDEX Coriander, Castor Seed bearish; support 6500, 3150
Support for the
commodity is seen at 6500 while 6950 is the resistance. Traders may sell around
6780 with the stop loss of 6950 for the target of 6500. NCDEX coriander
for June delivery was seen trading down by 1.34% at Rs.6691 per 100 kgs as of
11.30 AM IST on Monday.
NCDEX Turmeric range bound; 5700-6150 range
Turmeric traders are
awaiting monsoon showers and are hoping that prices may surge after the advent
of rains. Monsoon is the season of accumulation and distribution of all spices
and this process may support prices to some extent.
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